Application Research Of CVBC Model In Enterprise Value Evaluation Of Content Platform

With the vigorous development of the Internet platform economy,the major content platforms are deeply engaged in the vertical fields,hoping to create the tonality of the platform content products and occupy the business heights.In recent years,increasing numbers of scholars have begun to pay attention to the issue of enterprise value evaluation on the platform.However,most of the case enterprises studied by scholars are content platform enterprises with live streaming or video as the main business,such as Bilibili and Tiangue Entertainment,or transaction platform enterprises like Alibaba and Jingdong.Similar to Xiaohongshu,Zhihu and other content platform enterprises in the form of graphic question-and-answer sharing has not yet been more involved.However,for the content-based platform enterprises that focus on text and text sharing and question and answer forums,the interaction between user behavior and its business ecological circle is crucial.Ecological value and user value can affect the profit level of the platform,which is an important source of its enterprise value.At the same time,high customer acquisition cost and low acceptance of business realization behavior have increased the difficulty of ecological and user operation of the platform itself.Therefore,this content-like platform has more research value compared with other types of platforms.In view of the operation characteristics of such content-type platform enterprises,this paper selects CVBC enterprise valuation method based on user value theory to analyze the influence of user value on content-type platform enterprises.At the same time,the paper holds that the user value and the platform ecological operation ecological value complement each other and cannot be separated.However,in the research on CVBC model correction,no scholars have introduced ecological value to modify the model.Therefore,this paper dissolves the platform business,analyzes the value drivers of ecological value and user value,quantifies and subdivides the relevant financial data of platform enterprises,and attempts to introduce ecological value to modify the CVBC model innovatively.Finally,this paper comes to a conclusion;Traditional CVBC model is less likely to fit in content-based platform enterprises,while after introducing the ecological value correction CVBC model is more suitable for the value assessment of contentbased platform enterprises.The process of value evaluation in this paper can help investors to make investment decision.